Per CNBC

The price of Chocolate is expected to get more expensive as cocoa has reached a seven-year high. This comes as the prices of chocolate have already increased by 14% in the past year, according to data from NielsenIQ.

Aside from cocoa, sugar also saw a massive increase in price, reaching its 11-year high in April. Sergey Chetvertakov, the S&P Global Commodity Insights' Principal Research Analyst, gave a statement regarding the prices of cocoa.

Chetvertakov: “The cocoa market has experienced a remarkable surge in prices … This season marks the second consecutive deficit, with cocoa ending stocks expected to dwindle to unusually low levels,”

Recently, the price of cocoa reached $3,160, just short of its $3,171 price on May 5, 2016, the commodity's previous high. Another reason for this phenomenon, Chetvertakov pointed out, was the arrival of El Nino, which would affect cocoa production.

At the end of May, it was reported that the price of English Breakfast had risen to a record-high of $44 dollars to make. This would be the total amount needed to make the full meal.

In December, it was reported that around 70% of Americans suffered from food inflation and were suffering to afford groceries. This came from a survey of 1,500 participants.

See flow at unusualwhales.com/flow.

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